Thursday, February 18, 2010

HBR, Stop Ignoring Growth Opportunities

Chances are that someone inside your organization has a great idea for how to grow your company. Chances are also that leadership is ignoring that idea. Kodak long ignored an engineer's idea for a "filmless camera" (aka a digital camera) because it was in the business of selling film. The largest growth opportunities are often the market-changing ideas that not only represent growth, but a threat to your business as well. Figure out what those threats are before someone else does. Ask your people: what could put us out of business? In the answer to that question may be your biggest source of innovation.Today's Management Tip was adapted from "Have You Already Killed Your Next Big Thing?" by Mark W. Johnson.